Queens hotel to pocket $11M property-tax refund after it was overvalued by city

In a decision that could significantly help ailing hotels while harming the city’s finances, a judge on Tuesday said tax assessors substantially overvalued a Queens hotel for several years prior to the pandemic.

The owners of the closed Courtyard by Marriott near LaGuardia Airport are now in line for a refund of more than $11 million, said an attorney for the hotel, Joel Marcus.

“This case is important for all hotel owners because the city has been overvaluing hotels for years,” Marcus said.

He added several hotels are seeking tax relief, including the closed Omni Berkshire Place, the InterContinental Times Square and the Residence Inn by Marriott on Sixth

→ Continue reading at Crain's New York Business

[ufc-fb-comments url="http://www.newyorkmetropolitan.com/news/queens-hotel-to-pocket-11m-property-tax-refund-after-it-was-overvalued-by-city"]

Latest Articles

Related Articles